We continue to deliver the benefits of clean energy to energy users, whether on the farm, in households, on the road or in a factory.
Since we began investing, the CEFC has made more than $1 billion in finance available for smaller-scale projects.
The CEFC has a strong focus on extending the reach of our finance to support investment in smaller-scale clean energy projects. Through our asset co-finance programs with the major banks, specialised lenders and funds, we continue to deliver the benefits of clean energy to energy users, whether on the farm, in households, on the road or in a factory.
We are proud to have helped finance more than 5,500 individual projects, involving farmers, small businesses, manufacturers, building owners and community facilities. These investments are made via the wholesale debt facilities we provide to our co-financiers, who use that capital to provide low cost finance to borrowers investing in smaller-scale clean energy assets around the country.
Throughout 2017-18, we saw a substantial increase in the number of projects financed through these programs. Projects range from $10,000 to $5 million, with an average investment of $125,000.
Reflecting the significant challenge posed by transport-related emissions, these asset finance programs have helped to catalyse a marked increase in the transition to electric and hybrid passenger and light commercial vehicles, with more than 540 vehicles financed to date.
Eligible projects range from small-scale rooftop solar and battery storage, to energy efficient manufacturing and farm equipment, as well as improved building insulation, heating and cooling, demand management systems and low emissions or electric light vehicles.
The co-finance programs remain an efficient, effective and timely mechanism to enable a large number of Australian households and businesses to draw on CEFC finance.
At the same time, they encourage increased investment in clean energy technologies, by incentivising borrowers to preference best in class clean energy assets when considering new equipment purchases, property fit outs and vehicles.
Since we began investing, the CEFC has made more than $1 billion in finance available to smaller-scale projects through these asset finance programs. This approach to co-financing has proved very successful.
While we expect the finance for some programs to be fully deployed during 2018-19, others will continue. We see an important ongoing role for CEFC finance to support smaller-scale investments in clean energy assets and are exploring additional opportunities with co-financiers to establish the next iteration of these innovative partnerships.